This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Robotics is a branch of engineering which involves design, conception, manufacture, and operation of robots. Robots are used for various activities such as assembling products, space missions, detecting and defusing bombs, product inspection, surgical operations, and cleaning and household activities. Robotics technology is widely used in various industries such as electronics, healthcare, artificial intelligence, defense, mechatronics, aerospace, nanotechnology, and automotive and infrastructure.

Increasing demand for automation especially, in automotive industry and technological advancements such as modular robotics, cloud- and nano-robotics are major factors expected to drive growth of the global market over the forecast period. In addition, increasing concerns regarding the labor safety and rising adoption of robotics in various organizations to automate processes for delivering high-quality products, increasing manufacturing capabilities, and managing processes, are other factors expected to further fuel growth of the target market. Furthermore, rising adoption of smartphones and tablets is expected to support growth of this market in the near future. Moreover, rising investments by defense sector to develop innovative military drones for surveillance, bombing, and image capturing application are expected to propel growth of the global market over the forecast period.

However, high initial investment and maintenance costs are major factors expected to restrain growth of the global robotics market over the forecast period.

Ongoing trend observed in the target market is increasing adoption of robots, owing to technological advancements in industrial and service robotics.

The market in North America dominates the target market in terms of revenue, over the forecast period, owing to rising adoption of robotics technology majorly in various sectors such as defense, security, and healthcare in various countries in the region. The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to increasing need of automation in various sectors and labor safety concerns in various countries in the region.

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